Express

Licenses Now Required For Austrian Cryptocurrency Companies

Roland James

Summary: Austrian cryptocurrency firms must now apply for a license to the nation’s financial watchdog as new Anti-Money Laundering (AML) regulations take effect. To qualify license applicants must provide the Financial Markets Authority (FMA) of Austria with evidence that they possess sufficient capability, coherence, and solvency to run the business. The penalty for operating a cryptoasset-related ...

Austrian cryptocurrency firms must now apply for a license to the nation’s financial watchdog as new Anti-Money Laundering (AML) regulations take effect.

To qualify license applicants must provide the Financial Markets Authority (FMA) of Austria with evidence that they possess sufficient capability, coherence, and solvency to run the business. The penalty for operating a cryptoasset-related business without a license is a maximum fine of €200,000.

By Roland James

Last Update:

Tags: ,,,
Link: Licenses Now Required For Austrian Cryptocurrency Companies   [Copy]
Next:

Related Articles

  • BTC Weekly Watch: Is the Rebound "Feast" Nearing Its End? 7 days ago
  • ​The Crypto Treasury Boom Meets Regulatory Chill: Is the DAT Frenzy Fading? 14 days ago
  • Nasdaq Takes Aim at 'Crypto-Flipping' Companies with Stricter Rules 18 days ago
  • BTC Weekly Outlook: The Oversold Bounce—A Bottom or a Shorting Opportunity? 21 days ago
  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 25 days ago

    • You need to login to comment.